Solved

Match the Following Terms with the Appropriate Definitions

Question 167

Matching

Match the following terms with the appropriate definitions.

Premises:
A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets
A journal used to record sales of merchandise on credit
The special journal that is used to record all receipts of cash
An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity
An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure
The component of an accounting system that keeps data in a form accessible to information processors
A journal used to record all purchases on credit
A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger
A list of each customer from the accounts receivable ledger with their balances and the total
Any journal used for recording and posting transactions of a similar type
Responses:
Information storage
Schedule of accounts receivable
Special journal
Cash receipts journal
Compatibility principle
Controlling account
Cost-benefit principle
Segment margin
Sales journal
Purchases journal

Correct Answer:

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets
A journal used to record sales of merchandise on credit
The special journal that is used to record all receipts of cash
An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity
An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure
The component of an accounting system that keeps data in a form accessible to information processors
A journal used to record all purchases on credit
A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger
A list of each customer from the accounts receivable ledger with their balances and the total
Any journal used for recording and posting transactions of a similar type
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